Tench, and not by any other person, and were then locked up, and afterwards destroyed; and bonds were created, as being more acceptable, and were to take up due notes, or as they should become due; and an order was made for Robinson to have 4,000l. in bonds for the same purpose; that when pledges have been renewed, new notes have been struck, and to the best of his knowledge no inquiry was ever made about pledges subsisting upon renewals; and, believes, their ruin is in some measure owing to that. And the examinant said, he was at a meeting with Jones the auctioneer, who was a troublesome man, and said, Jones then complained of his being injured by private sales: That he seldom attended at the Corporation house, but when the Corporation was before the parliament, he then complained and insisted on what was due from the Corporation, otherwise he would publish a paper, which he shewed the examinant, and read a paragraph out of the same, which was not true; and the examinant told him, he should be satisfied, and accordingly gave him a note for 500l. great part of which was due from the Corporation to him, which he afterwards sued the examinant for: The examinant believes, he has the said paper by him, and never shewed it to sir Robert Sutton or any other of the Committee; and was desired by sir Robert Sutton, Mr. Molesworth, and several others, to make Jones easy, and has not been reimbursed the said 5007. but believes the Committee intended to make it good: That the private sales Jones complained of was no otherwise, but that the owners of goods had the liberty of selling the same, and does not remember of the least mention made in the said paper, that it was in Thomson's power to draw all the cash out of the Corporation by fictitious certificates. And the examinant also said, that when the before-mentioned notes were ordered to be made, he is positive sir Robert Sutton, Mr. Bond, Mr. Molesworth, sir Archibald Grant, Mr. Mann, Mr. Jackson, and Mr. Squire, were present with the examinant, who made a minute for making the said notes on a loose paper, which was locked up in the chest with the said notes; and remembers at the same time, that Squire, Jackson, and the examinant, were to see the same performed, and Tench was present, who signed the said notes; and believes Mr. Wainwright was backwards and forwards, but did not sign them, or any of the Committee or Assistants, which must have been done before the same could have been issued; and the said notes were dated the day they were made, which was prior to the time limited in the bill; and were made of the same paper as the pledge notes, but not numbered or marked, as being of no signification. Then a Minute of the Court of Committee, the 8th of November, 1726, was read; it was ordered, that not any more should be lent upon one pledge than 2,000l. without application.. The examinant said, he believes application had been made for lending a greater sum on one pledge, but cannot particularly remember it; and said, the Committee condescended to whatever Thomson thought proper: That being asked, if rent for warehouses had ever been brought to account, the examinant said, he remembered to have once seen an account of warehouse rent; but knows of no order made for inspecting the warehouses of the said Corporation in February, 1730; for the books were sufficient to shew what they had, provided real pledges had been therein; and said he did not know or apprehend any embezzlements had been made, when the Corporation was before the parliament last session; and said, that he had heard of Robinson's transactions in South Sea and India stock, but had no jealousy of him but from the great balance remaining in his hands; and at the same time believed, he had good principals, and was supported by men of fortune and figure; and the examinant further said, he remembers it was mentioned at a Committee, and believes sir Robert Sutton was then present, that it would be of service to the Corporation, if gentlemen of both houses and men of substance had stock; and does not know any proposal was made, but that every gentleman should speak to his friends to engage them to become proprietors: That he also said Mr. Robinson had informed the examinant, that Mr. Hughes, a member of the House of Commons, had made a demand of him for services done for the Corporation in the last session of parliament, and had complained to the said Robinson, that he had been ill dealt with, the examinant apprehended he meant by the Corporation; and said, that he had some discourse with sir Archibald Grant about the same, and believes, it might be mentioned in the Committee room, when several gentlemen were present at such conversation, and believes sir Robert Sutton and Mr. Molesworth were there, and happened after the parliament was risen, but could not say any grati fication was made; if there was any, it was done by Robinson, but he does not know it, and believes not any was given, and apprehends Robinson mentioned it as a thing proper to be done; and the examinant could not say he discouraged it, and caunot remember any person made application to support it, but Robinson, who seemed to sunile, when he first mentioned it. And also said, that sir Thomas Robinson bought the shares before mentioned absolutely, and at the market price, and was, as he be lieves, to have no consideration in any shape, if fallen below the price he paid for them. Thomas Beake, esq. one of the assistants, being examined, said, that he has been ill a considerable while, and did not know of any embezzlements made before Thomson went away; that when he has gone to the house on Lawrence Pountney hill, the Committee have been generally rising, and cannot account, for the mismanagements which have happened; that when he was appointed an assistant, he The measures. John Torriano, esq. one other of the Assistants, being examined, said, be was drawn in to buy shares at a high price, viz. 15l. per share, fell afterwards to 67. was then solicited to come into the direction; and when any thing appeared irregular, or not agreeable to the charter, the examinant voted bagainst it, and made it his study to think of good orders and checks, as well for the directors as the officers, to prevent any mismanagements, and which order the examinant often insisted should be put in use, and complained of their being neglected, desired them to be copied for the board, and that copies should be given the officers, to whom they related, and when they were forgot, or purposely dispensed with, he moved for their revival, and the same were often repeated. One of these very often insisted upon was, that the pledge book and certificates of pledges, shewing where each pledge was deposited, should be laid upon the table, which not being done, the examinant called upon Thomson, and impeached him to the committee for not complying therewith; the difficulty of doing it was pleaded hurry of business, and a thing almost impracticable, and would prevent business, because borrowers would not have their names known: these excuses were allowed and strengthened by gentlemen at the board, Burroughs, sir Archibald Grant, Squire, and sometimes sir Robert Sutton: that at the committee of accounts, to which all others were appointed, the examinant constantly attended, and seldom or never failed to call for the accounts of cash as well as pledge books, which accounts of cash were always produced to bim, when called for, but not otherwise; upon the account from the 1st to the 12th of February, 1730, proposed, as he had many times before, a visitation of the warehouses, and survey of the pledges, which was promised should be done, and many days set for so doing, but was protracted from time to time, till the city petitioned the Parliament, when the necessary preparation for the company's defence gave interruption thereto, and was pleaded in excuse of its being neglected: at the same time the examinant complained against Robinson's having so large cash in his hands, and obtained an order to be sent him to reduce his balance. This was pleaded for nevertheless, though the examinant complained of the unreasonableness of allowing him one per cent. for circulating the notes, if he was to do it with the Company's own money. The reason given in support of this was, that he having engaged with such who had taken the notes from him, to exchange them again for money at any time, giving him three, eight or ten days notice, had put himself thereby, in danger of being pressed and overdrawn, which might occasion him to put off notes that were due, or to break his promise with such whose notes he had agreed to exchange; that this would baulk the credit of the company, and work its ruin. A gradual reduction was engaged for, and that so much should never be in his hands again. The gentlemen who chiefly engrossed the management, were sir Archibald Grant, Burroughs, and Squire, who examined the books themselves, never suffering the examinant to have access to any books, but during their examinations was employed in something of little or no moment: and because the examinant had been so busy and active at the first, and in some sort the chief instrument in bring ing this matter of inquiry to Parliament, had been threatened to be impeached for breaking open a lock, and Mr. Groves told the examinant, that Squire purposely gave out this to vilify him. The examinant mentioned it, that he might have an opportunity to explain the same; and replied, that though he had been a director from the 1st of the year 1727, to the 11th of May, 1731, he had never been a guilty one; and said, he opposed the Supersedeas of Robinson's statute in several general courts called by the directors for that purpose, as well as for the opening of the books, and this he also opposed: that he had a good opinion of all the directors, till he found there had been a great embezzlement, and that he still retained the same opinion of some; and being asked an instance of what he principally objected to, the examinant said, that he particularly remembered, the lending of large sums was a point which always stuck with him, as being against the title of the charter; but that upon the enlargement for 200,000/. Burroughs, Squire, sir Archibald Grant, and sir Robert Sutton, said, it was granted for the encouragement of trade, and for lending large sums of money upon merchandises and manufactures, agreeable to the prayer of the petition presented to the king for the same; but they insisted, it was impossible two houses could be supported without lending large sums. Being asked, what was said, when he moved for the pledge books to be laid before them; the examinant said, he was often laughed at by sir Archibald, Burroughs, and Squire, who were always there; and being asked, if Mr. Bond was there always, he said, more seldom for the latter than the former part of his time. Being asked, how many times he had called for the Pledge Books, said, he believed at least a hundred times, and always thought sir Robert Sutton was a favourer of Thomson, and had never known him to dissent or come over from the opinion of Burroughs, Squire, and sir Archibald Grant; declared, he heard in the city a report of Thomson's carrying on a trade, and having called him up to the committee, impeached him to them; he denied the report; sir Archibald before his face said, it was of the examinant's own raising, if he would not tell its authors, and that if the examinant did not prove the assertion, he should be made. This, was the occasion that the officers were called to give bonds for not buying at sales, which was generally agreed to. Sir Robert Sutton readily came into it. After the examinant had been in a year, he proposed a supervisor; but the gentlemen before named, pleading not only Thomson's ability, but integrity, would not come into it, and opposed it, and pleaded increasing the charges; so he never proposed it again: of the clock, soon after an accident happened in his family, and he went out no more that day nor the next, but sent word that afternoon, if Burroughs was come, he should be glad to see him. Squire sent him word, the next morning would do; then he came and told the examinant, the secret was, that, at a meeting the night before at sir Archibald Grant's, it had been resolved to issue 30,000l. notes, either antedating them, or issuing them for six months only, from the 10th and 11th of May; and that Burroughs, who had the other key, was waiting for him at the coffee-house. The examinant told him, for several reasons he was against this proceeding, and mentioned sir Robert Sutton's promise to the Bank, the Minutes on the Book (a copy of which was voted to be sent to them for their assurance) sir Robert's Declaration in the House of Commons, and the Bill, which passed that House, restricting the Com And said, the great book (meaning the pledge ledger) was never brought up, but when Burroughs came, whose province it was to examine that; and the stock ledger the examinant never saw. That as to the dividends, was told, sir Robert Sutton was always consulted, which were agreed to at a private meeting of some of the Committee, before it was mentioned at the board, and was never regularly considered there, not considered at all, after the second five shil-pany from issuing either notes or honds, from lings dividend. The rule was to be here fixed, and remained so till the city putting them to charge, they reduced it to 3s. 6d. that he had no jealousy, when he desired to see the ware houses, that there were none; but believing, when the money appearing to be lent rose to 400,000l. and upwards, the two houses could scarcely contain the pledges for such a sum, desired to know, where the other warehouses were, concluding there were others; and further said, that upon Mr. Strange's returning his retainer, the Company were alarmed, expecting the Bank to join the city against them in Parliament. Upon this, sir Robert Sutton, sir Archibald Grant, and Mr. Bond, went to the Bank, and promised a court of directors then sitting, never to issue from and after that day, one more note, desiring them upon this concession, not to stir against the Company, nor to assist the city. Sir Robert promised this, in the name of the whole board, and declared, he would go back, and call a court of committee, and would come to such a resolution, and would send them a copy of such resolution, signed by their secretary, to give them the strongest assurance possible. This committee was called on the 20th of March, 1730, and the examinant was present, and joined in the resolution of not issuing any more notes, and of sending the Bank a copy, and was desired by sir Robert Sutton to be very careful, and see every thing locked up relating to the notes, and to keep the key, never delivering any notes Out; which, the examinant did. The next morning Mr. Burroughs had the other key of this box, in which were the keys of the iron chest; no attempt was made to get the said key from him till the 11th of May. On the 8th preceding, being Saturday, seeing Squire at the coffee-house, he desired the examinant to come thither on Monday morning very early, saying, he believed he should have something to tell the examinant for the good of the company. When Burroughs came into the city, examinant went; he desired him to stay till Burroughs came; but going home about twelve and after the 15th of May; all which he seemed to think of no force, because the Bank did interest themselves, he said, against the Company; the Bill did not pass into a law, and therefore no Bill and no restraint: upon which the examinant urged the necessity of calling for so much money from George Robinson, complaining, that it was very great folly and madness, to leave so much money in his hands; and that if he could not pay off notes, without having new ones coined for him, there must be a deficiency at last; and observed further, that the Corporation's notes could not be struck but upon pledges, and asked whether they had now an offer for 30,000l. in pledges; he answered, No, but that these notes being antedated to the Bill, might be kept till they were wanted; but the examinant answered, that was an evasion, and besides too great a trust for Tench, or to be added to Robinson, who bad so much already, and which he insisted should be called out. He left the examinant in much displeasure, saying, he would see what Robinson could say, and soon after sent Burroughs, who using as much or more importunity was answered in the same manner; he urged present necessity, the delicate nature of credit, that the notes must not be baulked, and that the debts should not be increased, but those notes only employed to take up others; which the exami nant answered was not the true meaning of issuing specific notes upon specific pledges. Burroughs left him, and came to him again some time after with Squire, importuning him at first, and bullying him afterwards. But upon observing, that new notes coined without new pledges made, was increasing the debt, without having any addition of security, because every note ought to be doubly secured by its proper pledge, but if they went on so, they would render the notes that were out, insecure; and that these notes either antedated six months, or issued only for six months from the 10th and 11th of May, would become due just before the examinant's; and that in November next, they would have near 60,000l. to raise, if they were frauds; and that Mr. Groves told him, Squire had given out, that the examinant ought to have been hanged three years ago, for breaking open a lock, and flung reflections upon him. He said, that he knew nothing of the steps taken for obtaining the second and third licences; that he knew of no money or shares given away last sessions of parliament for any interest; that he remembered an order of the House of Commons brought to the Board for the books, but not that any debates arose upon it; that he did not know of any steps taken to engage gentlemen to become proprietors; and was asked about the cupboard broke open for the transfer book; and said, that it was the 18th of May, 1728, and transfer day, and no holiday; that Wainwright was out of the way, and believed he was out of town, as he has been some times before, when wanted, and many people attending to transfer or accept stock; and asked the meaning of it, and was very angry, telling Thomson, he would acquaint the Committee of Wainwright, and of all of them, for negligent attendances: Whereupon, after staying very late, having a transfer to make of seventy shares, and being very angry, Thomson taking up a poker, or some iron in his office, without any order, or any noise or difficulty, that he knew of, opened the cupboard, took out the book, filled up and wit to pay off all notes which became then due: This difficulty they thought being removed, they should prevail; offering, that Robinson should immediately pay off the 5,000/. notes the examinant bad, and so much interest, as was then due; which he refused, looking upon it as a consideration of no weight, and was easy with the present condition and security of them, provided such irregularities did not creep in, and that Robinson's debt was a good one; that the other reasons, which they slighted, were of force with the examinant, though he might reasonably be against increasing the notes, when he had so many; because as he might, being in trade, have occasion for money before they were due, and be obliged to sell them, could not get them so well off, when they were so plenty, as when they were but few they told him, that if he would not part with them, then Robinson should give him a note to pay as many of them, as he wanted, before they were due, and that all his notes should be paid prior to the others. But as their importunity and these promises increased his jealousy, he gave them an absolute denial, and that he knew as well as they did, that notes regularly issued, borrowing money at six per cent. to lend out at eight or ten, was for the advantage of the Company; only it seemed to the examinant then irregular, and a future enquiry in parliament might arise; and that how-nessed the examinant's transfer, and took the ever beneficial it might be for the company, he would not do it; and immediately upon their leaving him the third time, wrote a letter, and sent his key inclosed therein to sir Robert Sut ton; which letter protested against these notes, declared his resignation, and pointed out the sum in Robinson's hands; which letter sir Robert having acknowledged in the general court, they allowed the merit thereof, and that thereby the examinant had saved them a great sum. And produced the said letter dated the 11th of May, 1731; and said, the common custom was to sign notes, when money was wanted for pledges, upon the certificates of the said pledges, which notes were signed in a book, and cut out, when to be issued; and said, this proposal to issue notes clandestinely was the first irre-ing, as he supposes, only what he thought fit, gularity that ever came to his knowledge; and opposed the same, declaring he would appear no mere at any Court of Committee, nor ever come amongst them; but did not immediately disqualify himself any other way, that is by transfer of stock, because he thought this declaration sufficient, though afterwards he did, by which his shares stood reduced to the No. 40, which is below an assistant. The next day after sending the letter, he saw Burroughs at Randall's coffee-house, who told him, he had been with sir Robert Sutton, and seen his letter, called it an ill-natured one, thought it reflected on himself and Squire, and said, it had set the Corporation on fire, or in flames. The examinant said, he was never once with any of them afterwards at any Committee; and said, that he believed Burroughs, Squire, and sir Archibald Grant, had been concerned in the 1 transfers of the others who were waiting; and the examinant said, Mr. Mann told him, Burroughs and Squire said, he behaved vilely in the general court, and raised up a spirit among the proprietors; and if he hanged them, they would hang him right or wrong; that great endeavours had been used to keep the petition out of parliament; And being asked by whom said by the directors and Mr. Blackerby; and being further asked, why he joined him with them, said, he believed him to be in their interest, and looked on him as a director's man and said Mr. Higgs was ordered to keep away from the Committee, or dispensed with, and that Burroughs took the minutes as secretary, turning sometimes a deaf ear, and enter and brought them to Higgs in his pocket: That he knew of no application made by a ge neral court, for applying for the second licence, nor was such application talked of; That Bur roughs between the 20th of August and the 10th of September shewed him the said letter of licence on a Sunday, going through Putney in a chaise, and desired the examinant, before he saw the licence, to put his name to a petition to the King for a patent or charter, on Tomkin's patent for making iron. This was what he called for, and believes his doing it, was the inducement for his shewing the licence; that though Squire had told the examinant near two months before he saw the said licence, there would be an enlargement, the examinant did not believe it; and did not believe Bur roughs, when he said it was done, till he shewed it him, and said he had it but a little time. The horses stood as going to Hampton-court, or Richmond, and went that way, the court being at one of these places; That being asked, if circular letters were wrote about the middle of September, and if he saw the licence before those letters, said he had, and before Thomson's breaking open the cupboard for the transfers on the 18th of September, 1728. And was asked, if he saw the licence before his sending the letter to his father; said, he had. Believes Burroughs told him the same, at least understood it so from him. And said, shares were held by the directors in other names, but does not know them; and between Midsummer 1728, and Midsummer 1750, Robin son, sir Robert Sutton, Burroughs, and Squire, had a great many shares. saw or spoke to Robinson on his return, after leaving England, but in the general court, when he declared, he had a sixth part of the capital, on which the examinant asked, if he ever paid for it, or what he ever did pay, but was not allowed him to answer; and said it was not a proper time and place. That he never spoke to Squire one word after Robinson and Thomson went away; should have been ashamed to have spoke to him; because he had, upon That he bought 60 shares at 71. and 45 proposal to issue notes, conceived an ill opinion for his sisters at 81. two days after he had of him, as well as from an evidence against seen the licence, and said the licences were ob- him in parliament, though a good opinion of tained by the interest of sir Robert Sutton, and him before but left the coffee-house he used, when he went abroad, left it to the care of Bur- and said, Squire told him application was made roughs, to carry through the offices and being to sir Robert Walpole for the licence; and that asked, if he knew whether all the money had sir Robert Sutton had a promise, if the Attorney been paid in on the first licence for 70,000l. General reported favourably, it should be grantsaid, he did not know if it had or not; or whe-ed; that it stuck with the Attorney a long while. ther all was paid in on the second licence; said no; and that he had not paid in on some of his own privileges; and delivered a copy of an account of cash given in by Tench, from the first to the 12th of February, 1730, which shewed what was then paid in on each enlargement. Was asked, if he knew of any transactions of Robinson's or Thomson's for shares, said, he did not; but farther said, that the Tuesday after Burroughs had been with him, the examinant bought 60 shares at 71. and 45 at 81. and ten days after, or thereabouts, sold 70 shares at 10. 10s. which he transferred the 18th of September to Pepys, and received 7351. of him on account of Robert Mann, the same day; that, upon complaining of Wainwright's absence, said, he would represent them all as negligent, Thomson opened the cupboard, others waited, and did transfer the same time, and his aunt Torriano transferred 25 shares at 10l. which had been sold a day or two before, at the price of that day; but that then they were snapt at, and he was blamed for selling at 10. 10s. that he sold Jackson 50 shares at that price, and never sold a share but to a director or Robinson, and transferred either to them or their order; and upon his father's letter did apply to Robinson to get him shares; acquainted the said Robinson he wanted some, and believes he shewed him the said letter, who said, he would serve Mr. Mann, and oblige him with some at ten guineas, pretending it was a favour. - That the directors were very angry at his selling, and Burroughs said, he should be turned out of the direction. That the shares rose from 61. to 71. and to 81, was between the 20th of August and the 10th of September. Burroughs shewed him the said licence, and talked with Squire (near about two months before he saw the same) about such a thing, but did not believe there was a licence till he saw it, nor bought any shares before he saw it. And Burroughs and Squire told him of a further increase in the capital, when he was selling out, but the examinant doubted the success of such endeavours from the opposition of the city; and said, he never The examinant said, he had by him a great number of the notes, which he was afraid were worth but little, and the same, for which Burroughs and Squire offered him the money, if he would have yielded to their importunity to coin fresh ones. The examinant, upon recollecting the day when Burroughs shewed him the licence, said, he was very sure from concurrent circumstances, it was on Sunday the 1st of September, 1728, when the said Burroughs was going to Epsom with his lady, as this examinant has reason to believe, be having a house or lodging there. That the examinant has received a letter from Mr. Mann, dated the 11th of September, wherein he mentions his receiving a circular letter from Higgs, by order of Burroughs to dine with the said Burroughs at Pontac's as Monday the 9th, which circular letter was wrote the 6th or 7th preceding; and delivered to the Committee one letter, dated the 11th of September, and another the 13th. George Jackson, esq. one other of the assistants, being examined, said, that he was chosen an assistant in April, 1726, and was of the Committee of Accounts; that he was surprised when he heard that Thomson was gone; and never had the least suspicion that the stock of the Corporation was embezzled ; but always believed the said Thomson to be an honest man, and thought they were happy in having such a careful man as he was generally looked upon to be;, but since this affair has happened, is persuaded, now it is too late, that too great a confidence has been reposed in their officers, and by having so great an opinion of Thomson. That some time last summer, the examinant remembers, that Mr. Molesworth proposed to him to have the warehouses examined, which the examinant readily agreed to; but the |